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(Kitco News) - Gold prices are higher and have pushed back above $1,100.00 in early U.S. trading Monday. Some fresh safe-haven demand is featured amid the recent shaky world stock markets. The technical charts are also looking better for the yellow metal. February Comex gold was last up $9.10 at $1,105.20 an ounce. March Comex silver was last up $0.113 at $14.17 an ounce.

European stock markets are seeing downside pressure to start the new trading week, mainly due crude oil prices once again selling off. Asian stock markets were firmer overnight, following Wall Street’s gains on Friday. U.S. stock indexes are pointing to weaker openings Monday morning.

The other key “outside market” today finds the U.S. dollar index trading modestly lower, which is also working in favor of the precious metals market bulls.

In other overnight news, the closely watched German Ifo manufacturing index was released and came in at 107.3 in January versus 108.6 in December. A reading of 108.5 was forecast. The downbeat economic report falls into the European Union monetary policy doves who want the European Central Bank to initiate new monetary policy stimulus measures.

The Federal Open Market Committee (FOMC) meeting begins Tuesday and ends Wednesday afternoon with a statement. While no change in U.S. interest rates is expected at this meeting, the statement issued after the meeting will be very closely scrutinized. Many market watchers agree the world economies and financial markets have become shakier since the last FOMC meeting in mid-December.

U.S. economic data due for release Monday is light and includes the Texas manufacturing outlook survey.